Indian markets followed its peers around the world and has been on a downward slope. It is witnessing sell-off across the board as there was a sharp correction in the US markets on specific concerns of global economic growth. The worst hit stocks belong to technology, capital goods and banks while realty space was marginally in the green.
Considering the global economic problems, forecast for global growth which includes India and China have been brought down. There is a serious risk aversion by the investors; it seems that safety of capital remains the primary motive. And going by recent statements from the economic experts, the trend is unlikely to reverse in near-term.
Tracking the worldwide slaughter, Indian indices too are falling, meanwhile silver and gold has gained for this reason. Volatility has increased and it is expected to remain elevated. If long-term investors have cash then they can invest as some of the stocks will be available for cheap. Momentum investors and short-term investors should wait and watch for a clear picture. They should only invest if they have some confidence on the direction of the market.
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